Q&A: Standard Chartered’s Agnes Umutoni, the GM, Affluent Banking & Wealth Management talks wealth creation with Uganda’s No.1 wealth advisory Bank Last week, Standard Chartered Bank, Uganda, kicked off its investment series under the “Your priorities get our priority” campaign, aimed at enhancing market knowledge about the numerous short, medium and long term wealth creation opportunities offered by the Bank’s Priority Banking. Agnes Umutoni, General Manager, Affluent Banking & Wealth Management, tells CEO East Africa Magazine’s Muhereza Kyamutetera about the various options available from what in her words, is Priority Banking’s “thoughtful bouquet of exclusive services, benefits and solutions.”

You describe Priority Banking as a segment built fundamentally on wealth management. What wealth creation options do you have for your clients?

With over 30 years of experience in the wealth business, our proposition positions us as the number 1 wealth advisory Bank in the market. We approach wealth creation differently at Priority Banking.

Rather than overload clients with information, our actionable insights help them make informed investment decisions. We help people plan and secure their financial future by saving for short-term drawbacks, being protected against adverse events, and investing for longer-term goals.

Currently, we offer Fixed Income (Bonds) both in Uganda shillings and foreign currencies, life insurance products that offer solutions for children’s education and retirement. Last, but not least we have foreign exchange solutions that allow our clients to trade in over thirteen currencies right from our SC Mobile App.

Our team of wealth advisors and Priority Banking Relationship Managers are always on hand to support and provide quality wealth advice to our clients on the best options available for them. We also prioritize regular portfolio reviews to ensure they stay on track at their leisure.

As a digital-first Bank, we continue to strive to find new ways of making investing convenient for our clients. They can now create an Investment Profile right on the SC Mobile App. This is the first step of any investment journey and will determine their risk appetite and products best suited for them.

We also have a range of property investment solutions and have an exciting offer for our clients- from now till 5^th December 2021. Clients can get up to UGX2.5 billion with zero arrangement and valuation fees.

The wealth creation space and the world of investment are as dynamic as the needs and preferences of customers. How are you innovating to keep your options as diversified as possible? Any future plans in the Wealth space?  

Like I said earlier, Standard Chartered Bank is the number one wealth advisory bank in this market and as such we are continuously evaluating fresh opportunities out there and exploring how to introduce them to this market.

We shall be introducing our offshore mutual funds offering very soon. With this proposition, our clients will enjoy an affordable and diverse way of putting their money to work. They will have access to hundreds of underlying equities or bonds from blue-chip companies in the US, Europe, UK, Asia, and emerging markets in different sectors like healthcare, technology, real estate and ESG or green investments. This offering is the first of its kind in the market.

Any closing remarks?

I would like to reiterate that we have a unique combination to offer: an open architecture platform that enables our clients to access investment insights and solutions from the best providers in the industry as well as strong investment advisory capabilities and strategic partnerships with insurers and asset managers.

Lastly, I would like to request all those interested in starting to plan and secure their financial future to contact us today, to find out how we can support them, by emailing us on prioritybanking.ug@sc.com or visiting our website at sc.com/ug. Alternatively, they can directly contact the bank’s Investment Advisor, Sarah Kiberu on +256 776 999 322.